Comments about ‘Deroy Murdock: U.S. economy slipped badly during last 4 years’

In visiting friends in North Dakota I found out the State has more than a
Billion $$$ surplus, a need for workers all over the State(especially in the
West with the Oil boom) and McDonalds and Pizza places in Minot paying over $16
per hour.Maybe being fiscally sound and not regulating every little thing
helps?

Partisan hackery. I'm convinced some people just arn't capable of
rational thought anymore. Bush was loosing 700,000 jobs a month at the end of
his presidency. We've been loosing manufacturing jobs for 30 years as a
result of bipartisan free market policies.

When we kept passing
these "free trade" bills like NAFTA we knew there were going to be jobs
lost. Why is it so surprizing now? And why in the world would you blame Obama
for 30 years of legislation. Hackery is the only answer.

Call a
waambulance. I voted for Perot, I don't want to hear your whinning now
republicans.

"correctly blames bush-cheney"? No, to blame bush-cheney would be
incorrect. They may have sat passively by, but it is barney frank to whom
belongs the blame for the economic meltdown BO inherited.

Without
barney frank forcing fannie and freddie to buy low-quality mortgages, banks do
not make them. If banks don't make low quality loans, the housing does not
appear tight, which leads to speculation which ever drives housing prices
higher. Fannie and freddie may not be the entire secondary market, but they set
the standard.

In late 2010, the banking regulators issued guidance
saying it was no longer acceptable for banks to make such loans,even if fannie
and freddie would buy them. Finally in August 2007, fannie and freddie stopped
buying junk loans and the subprime collapse hit, then the Alt-A market fell,
dragging down the prime market and the rest of the economy.

Of
course, BO's actions since taking over have delayed economic recovery.
Obamacare, lack of confidence by the business sector, political gridlock,
etc.

Time to replace the current incompetent occupying the WH with
someone who knows how to make money.

Do people remember Fall, 2008? America was not on top of the world
economically. John McCain stopped campaigning to focus on the economic crisis
that was sending the economy into a tail spin. Mitt Romney was there with
McCain trying to figure out what was happening and nobody knew. No one
understood what the banks had been doing and no one who had been behind the
fiasco could explain how what they had been doing worked. All we knew was that
some very bright people found a way to make a lot of money but didn't
understand the consequence beyond the huge profits they enjoyed. And neither
did they care!

Let's have some historical perspective on the
problem. One can only sympathize with the man who inherited that mess. And it
took well over 1 1/2 to get things stabilized, much less back on track to
recovery.

I'd sure like some honest talk about all this without
the noise and misinformation that comes in a political campaign. Ideas, people.
Let's have an honest discussion rather than cliches and partisan rhetoric.

Eric,Sorry,
were the dots too close for you to connect? Fannie and freddie were the
catalysts that started it all.

Let me use an analogy; Fiberglass has
three basic components: a cloth-like fabric, a thick resin, and a small amount
of catalyst that causes the resin to harden. I do not remember the exact
proportions, because it has been at least 20 years since I worked with
fiberglass, but maybe a half a cup of catalyst, if that much, will cause an
entire gallon of resin to harden. The catalyst is mixed with the resin and
spread over the cloth-like fibers. The chemical agents in the catalyst cause
the resin to hared on the cloth, and you have fiberglass.

Just as the
catalyst constitutes the smallest percentage of the make-up of fiberglass, it is
what gets everything going. Fannie and Freddie act the same, they are not the
entire secondary mortgage market, but they are catalysts - they set the
standards that all else follow. Without fannie and freddie lowering the bar,
the private sector does not follow and melt-down. F&F failed, too, BTW.